club_cafe: taxes in california

iras1 on

Just to be perfectly clear about John's last sentence -- your partners need to print up both their own K-1 and their own K-1(565).

Ira Smilovitz

Join me at InvestEd 2011

Investor Education at Its Best^TM
San Diego, CA May 13-15, 2011
http://www.investor-education2011.org/

In a message dated 02/20/11 22:15:47 Eastern Standard Time, rice.j1969@att.net writes:

You need to send the whole 1065 (which includes the K-1s) to the Department of the Treasury in Ogden, Utah and then send the whole 565 ( includes the K-1(565))to the Franchise Tax Board in Sacramento. I would have all of your partners print up their own K-1s from Bivio.

Ellen Shershow on

Ira--I did not realize that.

Thank you for the clarification!

So to be clear:

When I completed the Bivio tax interview, there were several links available to download from. In addition to the links to the individual K-1's, there were two links to the complete Federal tax package and the complete CA state tax package.

I skipped the individual K1 links, and printed out only the federal and state package.

In theory, could I simply photo copy the K1's included in these two packages and distribute those to my members at our next meeting? We are only 4 people currently, not including 2 withdrawals who are still issued K1's but no longer have access to Bivio, so I'll go ahead and download for everyone regardless.

Ellen

Ellen Shershow Pena Photography

www.ellenswebsite.com

www.ellenswebsite.com/category/blog/

415.690.0278

On Feb 21, 2011, at 3:31 PM, iras1 wrote:

Just to be perfectly clear about John's last sentence -- your partners need to print up both their own K-1 and their own K-1(565).

Ira Smilovitz

Join me at InvestEd 2011

Investor Education at Its Best^TM
San Diego, CA May 13-15, 2011
http://www.investor-education2011.org/

In a message dated 02/20/11 22:15:47 Eastern Standard Time, rice.j1969@att.net writes:

You need to send the whole 1065 (which includes the K-1s) to the Department of the Treasury in Ogden, Utah and then send the whole 565 ( includes the K-1(565))to the Franchise Tax Board in Sacramento. I would have all of your partners print up their own K-1s from Bivio.

iras1 on

Correct. You can print and copy all K-1s (federal and CA) for your members. Don't forget to give them page 2 of the federal K-1 (the page with all the codes).

Ira Smilovitz

Join me at InvestEd 2011

Investor Education at Its Best^TM
San Diego, CA May 13-15, 2011
http://www.investor-education2011.org/

In a message dated 02/22/11 17:51:58 Eastern Standard Time, thatgirl@ellenswebsite.com writes:

Ira--I did not realize that.

Thank you for the clarification!

So to be clear:

When I completed the Bivio tax interview, there were several links available to download from. In addition to the links to the individual K-1's, there were two links to the complete Federal tax package and the complete CA state tax package.

I skipped the individual K1 links, and printed out only the federal and state package.

In theory, could I simply photo copy the K1's included in these two packages and distribute those to my members at our next meeting? We are only 4 people currently, not including 2 withdrawals who are still issued K1's but no longer have access to Bivio, so I'll go ahead and download for everyone regardless.

Ellen

Ellen Shershow Pena Photography

www.ellenswebsite.com

www.ellenswebsite.com/category/blog/

415.690.0278

On Feb 21, 2011, at 3:31 PM, iras1 wrote:

Just to be perfectly clear about John's last sentence -- your partners need to print up both their own K-1 and their own K-1(565).

Ira Smilovitz

Join me at InvestEd 2011

Investor Education at Its Best^TM
San Diego, CA May 13-15, 2011
http://www.investor-education2011.org/

In a message dated 02/20/11 22:15:47 Eastern Standard Time, rice.j1969@att.net writes:

You need to send the whole 1065 (which includes the K-1s) to the Department of the Treasury in Ogden, Utah and then send the whole 565 ( includes the K-1(565))to the Franchise Tax Board in Sacramento. I would have all of your partners print up their own K-1s from Bivio.

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